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US Hist Scale 11
| Term | Definition |
|---|---|
| Black Tuesday | October 29, 1929; the worst day of plunging stock market prices during the stock market crash that helped initiate the Great Depression |
| New Deal | President Franklin D. Roosevelt's domestic program from 1933 to 1939, which aimed to bring about immediate economic relief from the Great Depression |
| Interest | the charge made by a bank for the use of money deposited in an account |
| Bear Market | a period in which stock prices are steadily decreasing |
| Bull Market | a period in which stock prices are steadily rising |
| Federal Reserve System | the central banking authority of the United States, which manages the nation's money supply |
| Discount Rate | the rate of interest at which banks that belong to the Federal Reserve System can borrow money from Federal Reserve banks |
| Conservative | someone who cherishes and seeks to preserve traditional customs and values |
| Liberal | someone committed to the expansion of liberty |
| Radical | someone who wants to make sweeping social, political, or economical changes in a society |
| Bank Runs | a financial crisis in which a large number of customers simultaneously attempt to withdraw their money from a bank out of fear that the bank will close |
| Social Security | a law passed by Congress in 1935 to establish federal programs to offer old-age assistance and benefits, unemployment compensation, and aid to needy mothers, children, and the blind |
| Stock Market Crash | in October 1929, the period of plunging stock market prices that helped initiate the Great Depression |
| Welfare State | a social system in which the government takes responsibility for the economic well being of its citizens by providing programs and direct assistance |
| Buying On Margin | buying stock by paying a percentage of a stock's price and borrowing the rest of the money from a broker, allowing one to make greater profits if the stock does well |
| Overproduction | a situation in which more goods are being produced than people can afford to buy |
| Underconsumption | a situation in which people are purchasing fewer goods than the economy is producing |
| Hawley-Smoot Tariff Act | a law passed by Congress in 1930 to raise the tariffs on imported goods in order to protect U.S. businesses and farmers |
| Federal Deposit Insurance Corporation (FDIC) | an independent agency of the United States government that insures deposits at insured banks |
| Securities and Exchange Commission (SEC) | a U.S. federal agency responsible for regulating the securities industry, protecting investors, and ensuring the integrity of securities markets. It was established in 1934. |
| Works Progress Administration (WPA) | designed to provide immediate jobs through public works projects |
| Civilian Conservation Corps (CCC) | designed to provide jobs for young men working on environmental projects |
| Social Security Act (SSA) | a system of unemployment benefits and pensions for retirees |
| Federal Deposit Insurance Corporation (FDIC) | to restore confidence in banks, this insured individual bank deposits, protecting people's savings |
| Tennessee Valley Authority (TVA) | designed to provide electricity and jobs to rural areas |
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